KeyCorp reiterated their hold rating on shares of World Wrestling Entertainment, Inc. (NYSE:WWE) in a research note published on Tuesday morning.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded World Wrestling Entertainment from a buy rating to a hold rating in a report on Thursday, October 12th. Needham & Company LLC reaffirmed a buy rating and set a $25.00 price target on shares of World Wrestling Entertainment in a report on Tuesday, September 26th. ValuEngine raised World Wrestling Entertainment from a sell rating to a hold rating in a report on Friday, September 1st. BidaskClub downgraded World Wrestling Entertainment from a buy rating to a hold rating in a report on Wednesday, August 9th. Finally, Benchmark Co. reaffirmed a buy rating and set a $25.00 price target (down from $26.00) on shares of World Wrestling Entertainment in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. World Wrestling Entertainment currently has a consensus rating of Hold and an average price target of $24.38.

World Wrestling Entertainment (WWE) opened at 22.54 on Tuesday. World Wrestling Entertainment has a 52 week low of $16.77 and a 52 week high of $23.88. The company has a market capitalization of $1.74 billion, a PE ratio of 68.72 and a beta of 0.84. The firm’s 50-day moving average price is $22.54 and its 200 day moving average price is $21.27.

World Wrestling Entertainment (NYSE:WWE) last released its earnings results on Thursday, July 27th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $214.60 million for the quarter, compared to analysts’ expectations of $209.28 million. World Wrestling Entertainment had a return on equity of 13.07% and a net margin of 3.29%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. Equities research analysts expect that World Wrestling Entertainment will post $0.46 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Friday, September 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Thursday, September 14th. World Wrestling Entertainment’s dividend payout ratio (DPR) is currently 154.84%.

In other news, SVP Mark Kowal sold 4,750 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $21.44, for a total value of $101,840.00. Following the transaction, the senior vice president now owns 17,011 shares of the company’s stock, valued at $364,715.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Casey Collins sold 13,383 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $21.23, for a total value of $284,121.09. Following the completion of the transaction, the executive vice president now directly owns 43,926 shares in the company, valued at approximately $932,548.98. The disclosure for this sale can be found here. Insiders sold 173,231 shares of company stock worth $3,660,354 in the last ninety days. Corporate insiders own 49.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in WWE. BlackRock Inc. grew its position in shares of World Wrestling Entertainment by 116,814.6% during the first quarter. BlackRock Inc. now owns 4,426,388 shares of the company’s stock worth $98,355,000 after purchasing an additional 4,422,602 shares in the last quarter. EastBay Asset Management LLC grew its position in shares of World Wrestling Entertainment by 153.2% during the second quarter. EastBay Asset Management LLC now owns 1,337,130 shares of the company’s stock worth $27,237,000 after purchasing an additional 809,130 shares in the last quarter. Davidson Kempner Capital Management LP grew its position in shares of World Wrestling Entertainment by 286.7% during the second quarter. Davidson Kempner Capital Management LP now owns 725,000 shares of the company’s stock worth $14,768,000 after purchasing an additional 537,500 shares in the last quarter. Eagle Boston Investment Management Inc. grew its position in shares of World Wrestling Entertainment by 100.8% during the second quarter. Eagle Boston Investment Management Inc. now owns 916,673 shares of the company’s stock worth $19,516,000 after purchasing an additional 460,117 shares in the last quarter. Finally, Heartland Advisors Inc. purchased a new stake in shares of World Wrestling Entertainment during the second quarter worth about $6,938,000. Hedge funds and other institutional investors own 49.49% of the company’s stock.

World Wrestling Entertainment Company Profile

World Wrestling Entertainment, Inc (WWE) is an integrated media and entertainment company. The Company’s segments are Network, Television, Home Entertainment, Digital Media, Live Events, Licensing, Venue Merchandise, WWEShop, WWE Studios, and Corporate and Other. The Company is engaged in the production and distribution of content through various channels, including its WWE Network, television rights agreements, pay-per-view event programming, live events, feature films, licensing of various WWE themed products, and the sale of consumer products featuring its brands.

Analyst Recommendations for World Wrestling Entertainment (NYSE:WWE)

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